NEWS RELEASES
APEC EXPORT CREDIT AGENCIES SIGN PROTOCOLTO INCREASE RISK SHARING AND PARTNERSHIP
November 21, 1997 No. 195
APEC EXPORT CREDIT AGENCIES SIGN PROTOCOL
TO INCREASE RISK SHARING AND PARTNERSHIP
Minister for International Trade Sergio Marchi announced today that Export Credit
Agencies (ECAs) and Export Financing Institutions (EFIs) of the members of the
Asia-Pacific Economic Cooperation (APEC) forum have signed a protocol to increase
co-operation and co-ordination of their activities.
"We are delighted with the degree of co-operation and the desire on the part of
APEC ECAs and EFIs to reach this agreement," said Minister Marchi. "It is our hope
that this enhanced co-operation and co-ordination will serve as a catalyst to
increased trade among APEC members."
The protocol covers a wide range of financial and risk management activities,
including financing, insurance, guarantees and other forms of official support
which do not undermine market principles. The goal is to expand trade
opportunities and partnerships to benefit APEC economies.
Agencies have agreed to work more closely on projects in the form of joint
financing, co-financing, equity participation, guarantees, co-insurance,
reinsurance and consultation and
co-ordination agreements.
The protocol also enables agencies to exchange information about technical,
commercial and financial aspects of specific projects being considered for
potential co-operation and to exchange non-confidential information on buyers and
conditions of various industries in APEC economies.
As host to the Export Credit Agencies and Export Financing Institutions within
APEC, Canada's Export Development Corporation played an instrumental role in the
development of the protocol.
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For further information, media representatives may contact:
Rod Giles
Export Development Corporation
(613) 598-2904
Media Relations Office
Department of Foreign Affairs and
International Trade
(613) 995-1874
This document is also available on the Department of Foreign Affairs and
International Trade's Internet site: http://www.dfait-maeci.gc.ca
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